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REGISTERED NUMBER: 05266394 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PAGELIST LTD

PAGELIST LTD (REGISTERED NUMBER: 05266394)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PAGELIST LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: C Lerner
I M Lerner
Mrs F R Lerner





SECRETARY: Mrs F R Lerner





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 05266394 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

PAGELIST LTD (REGISTERED NUMBER: 05266394)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Investment property 4 31,471,485 31,471,485

CURRENT ASSETS
Debtors 5 20,894 47,892
Cash at bank and in hand 5,831 9,151
26,725 57,043
CREDITORS
Amounts falling due within one year 6 (28,457,507 ) (28,755,926 )
NET CURRENT LIABILITIES (28,430,782 ) (28,698,883 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,040,703

2,772,602

CREDITORS
Amounts falling due after more than one
year

7

(23,237,265

)

(23,470,911

)
NET LIABILITIES (20,196,562 ) (20,698,309 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Revaluation reserve 10 (15,049,855 ) (15,049,855 )
Retained earnings 10 (5,146,708 ) (5,648,455 )
SHAREHOLDERS' FUNDS (20,196,562 ) (20,698,309 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PAGELIST LTD (REGISTERED NUMBER: 05266394)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2024 and were signed on its behalf by:




I M Lerner - Director



C Lerner - Director


PAGELIST LTD (REGISTERED NUMBER: 05266394)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Pagelist Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except for the assets and liabilities which are required by FRS 102 to be stated at fair value.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

PAGELIST LTD (REGISTERED NUMBER: 05266394)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 31,471,485
NET BOOK VALUE
At 28 February 2023 31,471,485
At 28 February 2022 31,471,485

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2015 (13,841,050 )
Valuation in 2017 (1,208,805 )
Cost 46,521,340
31,471,485

The company's investment properties were revalued by Cushman & Wakefield (specialist independent valuer) as at 12 April 2017.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 211 27,209
Other debtors 20,683 20,683
20,894 47,892

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 138,203 138,203
Taxation and social security 682,786 542,608
Other creditors 27,636,518 28,075,115
28,457,507 28,755,926

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Other creditors 23,237,265 23,470,911

PAGELIST LTD (REGISTERED NUMBER: 05266394)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Other loans 15,534,317 15,767,963

The company's investment properties are charged to Mount Street Mortgage Servicing Limited on behalf of LV Commercial Mortgages Ltd.

Farcastle Ltd the parent company is the borrower and Pagelist Ltd and other associated companies are guarantors.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
1 Ordinary 1 1 1

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2022 (5,648,455 ) (15,049,855 ) (20,698,310 )
Profit for the year 501,747 501,747
At 28 February 2023 (5,146,708 ) (15,049,855 ) (20,196,563 )

11. RELATED PARTY DISCLOSURES

Other creditors include £26,694,970 (2022 - £27,430,505) due to the parent company Farcastle Limited

Included in the creditors due more than one year is the sum of £7,702,949 (2022- £7,702,949) due to Creston Ltd a company where Mr C & Mrs F R Lerner are directors and shareholders

During the year the company paid management fees to Oakleaf Limited (I M Lerner is the director) in the sum of £4,000 (2022 - £6,900).

During the year the company paid management fees to Earlward Limited (I M Lerner is the director) in the sum of £5,500 (2022 - £7,900).

12. GOING CONCERN

The financial statements have been prepared on a going concern basis on the assumption that the parent company will provide continued financial support.